Yünsa's turnover in 2023, after applying inflation accounting in line with the Turkish Accounting Standard 29 (TMS 29) Financial Reporting in High Inflation Economies, recorded as 2.2 Billion TL.
Yünsa demonstrated a strong performance in 2023 with its strong sales channel portfolio, effective pricing policies and high brand awareness. The company realized its net profit as 544 Million TL, thanks to its cost-oriented approaches and effective financial management. Net profit margin increased by 2 points compared to 2022 and reached 25 percent.
Yünsa generated a net profit of 565.4 Million TL in 2023, excluding the effects concerning inflation accounting. In line with the published data, including TMS 29 inflation accounting, the company's net profit was 544.2 Million TL.
Yünsa's gross profit for 2023 reached 635.8 Million TL, according to the applied data of TMS 29, while the gross profit margin increased by 1 point compared to the previous period, and reached 29 percent. The EBITDA created by the company in 2023 reached 522.1 Million TL after inflation accounting standards were applied, while the EBITDA margin increased by 2 points compared to 2022 and reached 24 percent.
Yünsa's gross profit for 2023 reached 731.3 Million TL, according to the non-applied data of TMS 29, while the gross profit margin increased by 4 points compared to the previous period, and reached 42 percent. The EBITDA created by the company in 2023 reached 594.8 Million TL before inflation accounting standards were applied, while the EBITDA margin increased by 3 points compared to 2022 and reached 34 percent.
“We are advancing towards our goal of being the leading Woolen Fabric brand in Europe and the World”
While stating about their proud to lead fashion with their collaborations with more than 400 world brands in more than 50 countries, Yünsa Chairman of the Board of Directors Mustafa Sürmegöz said the following in the evaluation of company's 2023 financial results, “In 2023 which was challenging for both our country and for the world, where fluctuations took place in global economies and wars continued in our nearby geography, and inwhich our country disrupted by the the disaster of the century, we reaped the rewards of our efforts to managing our balance sheet, cash flow and liquidity in discipline successfully. Thanks to our visionary management approach, strong collaborations and the devoted efforts of our colleagues, we increased our turnover to 2.2 Billion TL and our net profit to 544 Million TL.
We are successfully leaving behind 2023, in which we celebrated with an excitement the 50th anniversary of Yünsa and the 100th anniversary of our Republic, and we are taking firm steps towards our goals of becoming the leading woolen fabric brand in Europe in 2025 and in the world in 2030."
Sustainability is an Integral Part of our Company Strategy
While considering sustainability as an integral part of its corporate culture, Yünsa also attracted attention with the investments realized in this field in 2023. While Yünsa transform its production facilities of approximately 200 thousand square meters, which have an annual production capacity of 10 million meters of weaving and 4,500 tons of yarn, to more environmentally friendly structure with the investments achieved in 2023, the dyehouse facility, which was completely renewed during the year, became one of the important indicators of Yünsa's sustainability approach.
Yünsa, which increased the usage rate of special fiber blended fabric produced by recycling waste pet bottles from 9% to 22%, enabled more than 10 million pet bottles to be turned into fabric. The company prevented the release of 450 thousand kg of CO2 equivalent emissions in 2023 and also saved 7 million liters of water.
